Tempus AI (NASDAQ:TEM) Shares Gap Down – What’s Next?

Tempus AI, Inc. (NASDAQ:TEM) gapped down prior to trading on Monday . The stock had previously closed at $73.77, but opened at $69.78. Tempus AI shares last traded at $67.50, with a volume of 328,322 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on TEM shares. Piper Sandler reissued a “neutral” rating and set a $70.00 target price (up from $40.00) on shares of Tempus AI in a research report on Tuesday. Bank of America downgraded shares of Tempus AI from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $45.00 to $60.00 in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on Tempus AI from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Loop Capital upped their price objective on Tempus AI from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus downgraded shares of Tempus AI from a “buy” rating to a “hold” rating and lifted their price target for the company from $45.00 to $65.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Tempus AI presently has a consensus rating of “Moderate Buy” and an average price target of $54.22.

Tempus AI Stock Down 12.3 %

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 8.17. The business has a 50-day moving average price of $50.90.

Institutional Trading of Tempus AI

Several institutional investors and hedge funds have recently made changes to their positions in the business. NEA Management Company LLC acquired a new stake in Tempus AI in the second quarter worth $160,048,000. Novo Holdings A S acquired a new position in Tempus AI in the second quarter valued at about $142,605,000. Revolution Growth Management Company Inc. bought a new stake in shares of Tempus AI in the second quarter worth about $128,133,000. ARK Investment Management LLC raised its position in shares of Tempus AI by 355.0% during the third quarter. ARK Investment Management LLC now owns 2,378,157 shares of the company’s stock worth $134,604,000 after purchasing an additional 1,855,459 shares during the period. Finally, Alphabet Inc. bought a new position in shares of Tempus AI during the 2nd quarter valued at about $54,289,000.

About Tempus AI

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.